Description Answer the questions below. Follow the guidelines for the short assignment: 1. Visit the ILO's website and use the ILOSTAT Database, to calculate the average employment, unemployment, and participation rates over the period 2000-2019, for Japan and China. 2. Create appropriate chart(s) to display these statistics for the US, UK, Japan, and China. Using your chart(s), describe the similarities and differences in these statistics between Japan, China, the US, UK, and those in Figure 1.5, which can be found here. You can hand draw your charts, or make a digital version if you prefer. 3. Suggest possible reasons for the differences in unemployment rates in these countries. (After studying this unit, use the model of the labour market to expand on your answer to this question). Guidelines for submissions: Sufficient = well-drawn graphs, substantive, addresses the prompt Insufficient = incomplete work lacking in substance. Poor sparse work and/or does not address the prompt. Your submission should address all aspects of the prompt, and be substantive. Substance means providing individual insight, engagement, and depth on a topic. Submit Assignment

Description Answer the questions below. Follow the guidelines for the short assignment: 1. Visit the ILO's website and use the ILOSTAT Database, to calculate the average employment, unemployment, and participation rates over the period 2000-2019, for Japan and China. 2. Create appropriate chart(s) to display these statistics for the US, UK, Japan, and China. Using your chart(s), describe the similarities and differences in these statistics between Japan, China, the US, UK, and those in Figure 1.5, which can be found here. You can hand draw your charts, or make a digital version if you prefer. 3. Suggest possible reasons for the differences in unemployment rates in these countries. (After studying this unit, use the model of the labour market to expand on your answer to this question). Guidelines for submissions: Sufficient = well-drawn graphs, substantive, addresses the prompt Insufficient = incomplete work lacking in substance. Poor sparse work and/or does not address the prompt. Your submission should address all aspects of the prompt, and be substantive. Substance means providing individual insight, engagement, and depth on a topic. Submit Assignment

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter13: Measuring The Economy's Performance

Section: Chapter Questions

Problem 4AA

See similar textbooks

Similar questions

Search for the “World Economic Outlook Database” on the internet and locate the most recent version. Use this database to select inflation data (units of percentage change) for Germany, Japan, and the United States for the period 1990 to 2010. Construct a table of annual inflation rates for these countries. Now construct a graph using annual inflation rates on the vertical axis and the year on the horizontal axis. Plot the annual inflation rates from your table in three separate lines on the same graph. How would you compare the experiences of these three countries based on your graph?
Construct a graph showing Russia's inflation rate from 1990 to 1990 using accurate data.
The table below is extracted from Goodland Republic Bureau of Statistics records for 2016 -2017. Use the information to answer the questions that follow. Goodland Economy 2013 and 2018 Price 2017 (Base year) Price 2018 Price per I tem Price per Unit ($) Production Unit ($) Production 50,000 100,000 50,000 23,000.00 120,000 5,000 Rice ( tons) Wheat (tons) Tractors mid-size (units) Cotton (tons) Used cars Manufacture garments (tons) Eggs (Trays) Coca Cola (litres) Pepsi Cola (litres) Beef (tons) Second hand cloths (tons) Alcoholic Beverages (litres) Milk (litres) 1.50 55,000 2.00 2.00 98,000 2.50 45,000 2,450.00 100.00 110,000 120.00 5,000.00 6,000 7,000.00 150,000 2,000 6,000 700 50.00 2.50 0.80 1.10 6.50 15.00 145,000 2,300 6,500 850 4,800 450 70.00 3.50 1.20 1.50 8.50 25.00 3.75 2.50 5,000 500 500 3.25 600 7,000 2.30 7,500 Examine the status of the economic welfare in Goodland Republic in 2018 based on your GDP deflator, nominal GDP and Real GDP. Also, explain the reasons why it is…
The following table shows the annual inflation rate (the GDP deflator) of Japan, the UK, China, and South Sudan in the period 1996-2015 (Source World Bank 1996-2000 2001-2005 2006-2010 2011-2015 -1.9% -0.9% Japan UK -0.5% 1.6% 2.1% 1.7% 1.8% 1.8% China 8.1% 2.4% 2.1% 0.8% South Sudan 54.1% 6.5% 0.6% -18.7% Based on this information, which of the following statements is correct? O In Sudan Price level has always decreased between 1996 and 2015 The general price level decreased in China between 1996 and 2015 O China experienced disinflation between 1996 and 2015 O in the UK, the price of goods and services remained stable between 2001 and 2015
Calculate the Unemployment Rate of this country using the data in the table: A) 100% B) 33% C) 50% D) 25%
Using the following data calculate: 987,156 Currently Working 23,000 volunteer workers 9845 (ages 13-14) looking for work 12,000 (ages 15) looking for work 45,600 Part -Time Workers 56 family workers who worked 15 hrs a week 234 Self Employed 6543 Discouraged Workers 67, 432 (ages 23-25) looking for work 67, 890 laid off receptionists looking for work 544, 321 (ages 16-20) looking for work Current population is 6,000,000 5454 Temp Workers 5000 armed forces 543 recent university graduates that are going back to graduate school 3500 institutionalized (iv) The labour force Participation rate (v). The "official" unemployment rate Type answer please
Using the following data calculate: 987,156 Currently Working 23,000 volunteer workers 9845 (ages 13-14) looking for work 12,000 (ages 15) looking for work 45,600 Part -Time Workers 56 family workers who worked 15 hrs a week 234 Self Employed 6543 Discouraged Workers 67, 432 (ages 23-25) looking for work 67, 890 laid off receptionists looking for work 544, 321 (ages 16-20) looking for work Current population is 6,000,000 5454 Temp Workers 5000 armed forces 543 recent university graduates that are going back to graduate school 3500 institutionalized (c) suppose that 20,000of tghe employed switches to jobs in the underground economy. When interviewed by STATIN, 50% of these switchers report that they are not workingnand not seeking work, while the other 50% report that they are not working but seeking work. Explain what happens to the official unemployment rate and the "true" unnemployment rate. (d) Illustrate and carefully explain the impact of an increase in the…
Using the following data calculate: 987,156 Currently Working 23,000 volunteer workers 9845 (ages 13-14) looking for work 12,000 (ages 15) looking for work 45,600 Part -Time Workers 56 family workers who worked 15 hrs a week 234 Self Employed 6543 Discouraged Workers 67, 432 (ages 23-25) looking for work 67, 890 laid off receptionists looking for work 544, 321 (ages 16-20) looking for work Current population is 6,000,000 5454 Temp Workers 5000 armed forces 543 recent university graduates that are going back to graduate school 3500 institutionalized (i). The number of persons employed. (ii). The number of persons unemployed. (iii). The labour force. Type answer please
Study the associated figure. Adjusted for inflation, during which years during the period shown did the lowest gasoline prices occur? Group of answer choices Gas was cheapest in 1998 - 1999 because the graph shows that the actual price of a gallon of gas was at its lowest in that time period. Gas was cheapest in 1950 - 1952 because the graph shows that the actual price of a gallon of gas was at its lowest in that time period. Gas was cheapest in 1950 - 1952 because the graph shows that the price of a gallon of gas in 2016 dollars was at its lowest in that time period. Gas was cheapest in 1998 - 1999 because the graph shows that the price of a gallon of gas in 2016 dollars was at its lowest in that time period. Gas was cheapest in 1980 - 1982 because the graph shows that the price of a gallon of gas in 2016 dollars was at its lowest in that time period. Gas was cheapest in 1980 - 1982 because the graph shows that the actual price of a gallon of gas was at…
Examine the following information as reported for the foods below in the years 2010 and 2019. 2010 2019 Item Price (S) Quantity Price (S) Quantity Eggs (one dozen) $2.75 27 $3.37 40 Chicken (500 g) $3.20 11 $3.57 7 Bread (675 g) $2.28 18 $2.83 23 a) Compute a simple price index for each of the items, using the year 2010 as the base year. Enter them in the same order as above: Eggs, Chicken, Bread. Round answers to 1 decimal. b) Compute a simple aggregate price index. Use 2010 as the base period. Round to one decimal place. c) Compute the Laspeyres price index for 2019 using 2010 as the base year. Round to one decimal place. d) Determine a value index for 2019, using 2010 as the base year. Round to one decimal place.
The table below is extracted from Goodland Republic Bureau of Statistics records for 2016 -2017. Use the information to answer the questions that follow. Goodland Economy 2017 and 2018 Items Production Price per/unit ($) Production Price per/unit ($) Rice (tons) 50,000 1.5 55,000 2 Wheat (tons) 1,00,000 2 98,000 2.5 Tractors 50,000 23,000 45,000 24,500.00 mid-size (units) Cotton (tons) 1,20,000 100 1,10,000 120 Used cars (units) 5,000 5,000 6,000 7,000 Manufacturing Garments (tons) 1,50,000 50 1,45,000 70 Eggs (trays) 2,000 2.5 2,300 3.5 Coca Cola (litres) 6,000 0.8 6,500 1.2 Pepsi Cola (litres) 700 1.1 850 1.5 Beef (tons) 5,000 6.5 4,800 8.5 Second hand clothes (tons) 500 15 450 25 Alcoholic Beverages (litres) 500 3.25 600 3.75 Milk (litres) 7000 2.3 7,500 2.5 Examine the status of the economic welfare in Goodland Republic in 2018 based on your GDP deflator, nominal GDP and Real GDP. Also, explain the reasons why it is necessary to calculate real GDP.…
The following table shows selected data on unemployment and inflation in the United States between 1977 and 1981. Unemployment Rate Inflation Rate Year (Percent) (Percent) 1977 7.1 6.5 1978 6.1 7.6 1979 5.8 11.3 1980 7.1 13.5 1981 7.6 10.3 Plot the data for these five years on the following graph.